PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Nadine Carroll who wrote (129679)	2/28/2001 1:58:29 PM
From: Neocon	Read Replies (1) of 769670

Nominal dollars are never used in a serious comparison, because they are misleading, and there is no reason to include years after Reagan when discussing his record. Reagan took a crack at entitlements, but did not feel he had the political capital to do everything. To put it another way, he would have been savaged by the Democrats. As for revenues: Income Tax Receipts. Even income tax revenues grew substantially in the 1980s. In 1981 income tax receipts totaled $347 billion; in 1989 they totaled $549 billion, a 58 percent increase. In fact, income tax collections grew only slightly slower in the 1980s than in the 1990s despite income tax rate reductions in the Reagan years and increases in the Bush-Clinton years. Real income tax revenues rose by 16.3 percent from 1982 to 1989 after the top income tax rate had been reduced from 70 percent to 50 percent in 1983, and then to 28 percent in 1986. cato.org Income tax receipts did grow, in constant dollars, after the tax cuts. Supply- siders never said that revenue alone would balance the budget, though. Without spending cuts, it was inevitable that things get out of hand.

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